PSI Advisors LLC Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

PSI Advisors LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 19.6% in the third quarter, Holdings Channel reports. The institutional investor owned 176 shares of the company’s stock after selling 43 shares during the period. PSI Advisors LLC’s holdings in GE Vernova were worth $45,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Newport Trust Company LLC purchased a new stake in GE Vernova during the second quarter worth approximately $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova during the second quarter worth approximately $537,674,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of GE Vernova during the 1st quarter worth approximately $367,474,000. Marshall Wace LLP acquired a new position in shares of GE Vernova in the 2nd quarter valued at $399,770,000. Finally, Legal & General Group Plc purchased a new position in shares of GE Vernova in the 2nd quarter valued at $293,699,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GEV shares. Bank of America boosted their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial boosted their target price on GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group upped their target price on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group boosted their price objective on GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Trading Up 6.1 %

NYSE GEV opened at $297.00 on Friday. The business’s 50 day moving average is $230.78 and its two-hundred day moving average is $187.97. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $297.54.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. Research analysts anticipate that GE Vernova Inc. will post 3.21 earnings per share for the current year.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.